New York Life

  www.newyorklife.com
  www.newyorklife.com
Work in HR? Unlock Free Profile

New York Life Reviews

Updated September 14, 2014
Updated September 14, 2014
720 Reviews
3.3
720 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
418 Ratings

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 48 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 27 reviews)


Cons
  • Be prepared to hassle friends and family to buy useless products (in 32 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 26 reviews)

More Highlights

112 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    No upward mobility

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst  in  Sleepy Hollow, NY
    Current Employee - Business Analyst in Sleepy Hollow, NY

    I have been working at New York Life full-time for more than 10 years

    Pros

    New york life has a good cafeteria in the Home Office but as of late, that's all the pro's I can think of.

    Cons

    Re-org = layoffs for the past few years. No communication from management before during or after. Rumor mill running wild about oct 2014. Get ready if your about to turn 5o and are making a decent salary. Your time will be up.

    Advice to ManagementAdvice

    Be human

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Cattle Call

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent  in  New York, NY
    Former Employee - Insurance Agent in New York, NY

    I worked at New York Life full-time for more than a year

    Pros

    Great, Great Group of people to work with. Friendly environment and lot's of support.

    Cons

    You MUST have access to wealthy clients, otherwise its a numbers game. No time on Quality, only time for Quantity. Sales office in NY is just disgusting and dirty!! Firm is nothing more then AMWAY on Lexington Avenue!

    Advice to ManagementAdvice

    NYL is TOP HEAVY!!!!!!!! Save some money and get rid of the old monuments in 51 Madison Avenue.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Hired to be a Financial Advisor and sell insurance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Professional  in  Dayton, OH
    Former Employee - Financial Services Professional in Dayton, OH

    I worked at New York Life full-time for more than a year

    Pros

    Strong Company with good products. Very good training of many different products and services.

    Cons

    Antiquated systems, still using complex and confusing paper apps. Underwriting is slow and strict, pricing is not very competitive. New hires need to understand BEFORE YOU GO, how much working for New York life as an agent is going to cost YOU. Thats right, you will need to shell out quite a bit of your own money to earn the right to work at New York Life, at least we did in our branch. Make sure you have access to orphan accounts, our branch didn't since it was not a main office.

    Advice to ManagementAdvice

    At the branchou level be honest to people you are tying to hire. NEGLECTING to tell them of the costs of everything from E&O insurance, office space, printer paper, computer technology ect... is dishonest.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  4. We want your feedback – Are these company reviews helpful to you?  Yes | No
  5.  

    STOP OUTSOURCING JOBS

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director  in  New York, NY
    Former Employee - Director in New York, NY

    I worked at New York Life full-time for more than 3 years

    Pros

    great cafeteria
    nice location
    good medical benefits

    Cons

    profits over people
    lie to their employees stating their jobs are safe only to be laid off 30 days later
    outsource American jobs to foreign countries and pay them $5 an hour
    management listens to outside consultants over their own people

    Advice to ManagementAdvice

    retire

    Doesn't Recommend
    Neutral Outlook
  6.  

    Perhaps not all New York Life offices are run like boiler rooms but Bethesda is...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative  in  Bethesda, MD
    Current Employee - Registered Representative in Bethesda, MD

    I have been working at New York Life full-time for more than a year

    Pros

    The ability to offer insurance and investment options that have a well known brand name with perceived value. There is flexibility in work hours but you get that with any job life this one. The online training was pretty good. Once you qualify for benefits, they are pretty good.

    Cons

    Watch out for the "Partners" (they really just recruiters). These guys will B.S. you at every turn. It is very difficult to understand what is contained in your contract and they will use it against you at every turn. You will be abused by the Managing Partner at some point in your first couple of months. Most of the personal growth I went through there was pulling myself back up after receiving so much verbal abuse by the Managing Partner.

    Advice to ManagementAdvice

    I often wondered if this office didn't under-perform considering the over the top income levels for the area.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Opportunity for the truly entrepreneurial

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Agent  in  Northeast, NY
    Current Employee - Agent in Northeast, NY

    I have been working at New York Life full-time for more than a year

    Pros

    Flexible work hours, great training, high commissions.

    Cons

    Success is all about who you know. Unless you get lucky. If you don't already have a wide network of people who have a need to protect their assets, its almost impossible to get started. College grads beware, they will tell you to write policies on your parents, family and friends with the understanding that in all likelihood, you will fail out of the business shortly thereafter. NO BASE SALARY.

    Advice to ManagementAdvice

    "Throw everything against the wall and see what sticks," is a bad philosophy. Agents compare themselves to the other agents you eventually hire and it gives us the feeling that we didnt really earn anything, because every clown off the street seems to get a chance.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Uninspiring work unless you are a manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative CS2  in  Lakewood, OH
    Current Employee - Customer Service Representative CS2 in Lakewood, OH

    I have been working at New York Life full-time for more than 5 years

    Pros

    Good starting salary, clean office, large company

    Cons

    Very little potential for advancement, rampant nepotism. Overtime is pushed HEAVILY upon hourly employees, staffing is inadequate and hiring practices are done poorly

    Advice to ManagementAdvice

    Watch your middle management - they are hiring their friends, promoting to keep employees that want to leave and giving opportunities to those who are in their good graces and not those who have put the time effort and indicated a desire to advance.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9.  

    Major changes

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous  in  Los Angeles, CA
    Current Employee - Anonymous in Los Angeles, CA

    I have been working at New York Life as a contractor for more than 10 years

    Pros

    Free healthcare center (you will need it, since health plan has been drastically changed), nice cafeteria, nice vacation allowance (if you are here over 5 years), sick pay

    Cons

    Changes to health insurance, favoritism, scary changes in restructuring, managers really can't give you an answer, managers can be overbearing and want to micromanage your every move, promotions are based on who you know

    Advice to ManagementAdvice

    Stop the restructuring. You just end up with managers who have no idea what they are doing. People don't want to hear you emphasize lateral career paths while preaching about how this June was the best June this company ever saw. Show us "little people" some respect by not micromanaging everything they do. Be very careful about favoritism. Don't create positions for people because they know someone.

    Neutral Outlook
    Disapproves of CEO
  10.  

    Assistant Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Financial Advisor  in  New York, NY
    Former Employee - Assistant Financial Advisor in New York, NY

    I worked at New York Life part-time for less than a year

    Pros

    good learning experience but extremely difficult for a recent graduate to suvive

    Cons

    there were too many sales cold calls to make and talking to random people in the Mall

  11. 1 person found this helpful  

    Poor management, low wages,

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service Representative CS2
    Current Employee - Customer Service Representative CS2

    I have been working at New York Life full-time for more than 3 years

    Pros

    -Good benefits and vacation time.
    -Pensions and 401k match

    Cons

    -benefits cost have gone up.
    -Incompetent managers
    -Strict promotional requirements, often based on seniority rather than knowledge and ability.
    -Low salaries, low "bonuses', lack of raises.

    Advice to ManagementAdvice

    -Be care careful not to hire/promote those who know how to say the right thing but cannot produce, manage, or delegate.
    -Don't confuse length of employment with competence.
    -embrace technology, cut down on the amount of paper used and processed.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO

Worked for New York Life? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.